Simple instructions:
- put script in makehuman dir
- run
- copy skelfrankie_rig from cs/data/frankie and put along side the generated factory file
- rename to rig
- edit rig and change in the skeleton tag name="frankie_rig" to name="rig"
- open factory in viewmesh
- start any animation, IMPORTANT without a animation running morphtargets won't be applied
- play around with the targets

UPDATE:
A CS fix later, fps is now on an acceptable level of 90-100fps. So if someone has time to improve the conversion, UVmapping, skin texture, perhaps a way to create a lower poly version...